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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (22972)	7/31/2000 10:25:58 AM
From: DanielleC	Read Replies (1) \| Respond to of 25711

Hey folks, look at CEPH! Selling a total overreaction to todays news. Just had an upgrade: SG Cowen upgrades CEPH to STRONG BUY by: sorin_h 7/31/00 10:19 am Msg: 13284 of 13286 09:53 ET Cephalon (CEPH) 39 3/8 -23 3/8 (-37.2%): -- Update -- SG Cowen upgrades to STRONG BUY from BUY; believes sell off is an overreaction Briefing.com

To: Joe Copia who wrote (22972)	7/31/2000 10:45:50 AM
From: TomNY	Read Replies (1) \| Respond to of 25711

FDKP today... Reminds me of two gunslingers staring each other down, waiting for the other to draw.

To: Joe Copia who wrote (22972)	7/31/2000 2:46:24 PM
From: Bob Davis	Read Replies (1) \| Respond to of 25711

Joe, The longs are certainly not wrong in trying to "squeeze" any short position - its a fine old tradition in the market. I'm not sure how effective it will be, and I don't know of an instance when it has worked successfully. Do you know of one? I have no evidence one way or the other regarding whether the market-makers do, or do not, have a significant short position. In the last two weeks about 2.1 million shares have changed hands (5.868 million shares/2.8 to eliminate double and triple counts), which is definitely higher than the float as of the date of the last Q. The actual "source" of this stock is still a mystery. Some could be MarketMaker shorting, some could be the result of the recent velocity of trading, and some could be coming out of the proverbial woodwork. Good luck with the effort - it will be interesting to see if it works. Bob Davis The Napeague Letter